Apple Expected to Launch iPhone Trade-In Program in September

Apple is getting ready to announce a new iPhone model at a press event next month (reportedly September 10th), and if you're already chomping at the bit (or "champing" at the bit, if you prefer) but find yourself stuck with an older iPhone model, you have options. One of them is to trade it in at an Apple Retail Store.

Customers haven't been able to do that before, but starting next month, Apple will take trade-ins of old iPhone models towards the purchase of a new one. Apple stores have begun trailing employees on how the process works, and a select few are already piloting the program.

According to TechCrunch, the way it works is you must have a functioning iPhone with no liquid damage. An employee will evaluate your trade-in using an EasyPay terminal, a fancy name for an iPod touch with a credit card reader attached. He or she will ask you a series of questions about the condition of your iPhone, all of which will determine the device's value.

At present, values are said to range from around $120 to $200 for a 16GB iPhone 4/4S, while a 16GB iPhone 5 fetches around $250. These values are less than some third-party trade-in companies, but the convenience of getting it done in-store rather than mailing a phone off and waiting will undoubtedly attract an audience.